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A22
business
Guardian www.guardian.co.tt Saturday, April 12, 2014
NOTICE TO SHAREHOLDERS
D
Based on the Financial Results for the year ended 31 December
2013, the Directors have decided to pay a final Dividend of
Forty-two cents ($0.42) per share to Ordinary Shareholders and
Four (4%) to Preference Shareholders. These dividends will be
paid to Shareholders on 12 June 2014.
To facilitate payment of the above dividend, the Register of
Members will be closed on 29 May 2014
Cheques for this Dividend will be mailed out on 12 June 2014.
0412066
NADALEEN SINGH
The minimum wage should be
the same for all sectors of the
economy but should fluctuate.
That was one of the suggestions
made at a breakfast meeting host-
ed by the Employers Consultative
Association (ECA) on Setting a
Real Minimum Wage at the
Courtyard Marriott, Port-of-
Spain.
"There must be a benchmark
for the minimum wage. I feel there
is a responsibility on the part of
government to set it because there
are those who will always set it
below and who will pay the least."
Economist Dr Roger Hosein said
the minimum wage sets a lower
bound benchmark "when you look
at the numbers."
"No more that 6.7 per cent of
the population get that." he said.
"It is interesting to see what are
the attributes of that 6.7 per cent
of the population. Almost 94 per
cent of the labour force work for
more than the minimum wage,
which means that it is basically
ineffective.
"It acts as a lower bound criteria
to allow people in the worst sit-
uation to have a minimum standard
of living. The majority of the labour
force work for way above that."
Hosein suggested that the min-
imum wage was nothing more than
a political tool.
"Discussions on the minimum
wage now would become topical
as we go into elections, as the var-
ious political parties try to woo
support from that segment of the
population interested in hearing
about fluctuations in the minimum
wage. That could work to their
benefit," he said.
He added that if there was a
decision to increase the minimum
wage, there would be a need to
look at productivity.
"Talking about wage increases
without understanding what is
going on with productivity really
doesn t make much technical
sense," Hosein said.
"Wage increases should always
be benchmarked against produc-
tivity changes. You would need to
look at the numbers properly.
"You would need to compare
the numbers before you make an
appropriate judgement as to what
increase in minimum wages the
economy could handle."
Southern hospitality was rolled
out recently as Beacon officially
opened its newest branch in Divya s
Mall, Guava Road, Point Fortin.
At the event, chief executive Robert
Mowser outlined the insurance com-
pany s vision to increase its reach
locally and regionally by building on
the strategic pillars of technology and
relationships.
He said the Point Fortin office was
the third in as many years and rep-
resented a doubling of Beacon s
Trinidad footprint.
Mowser said this rapid growth is a
direct result of employing a strategic
vision as the company continues to
focus on increasing its presence in
Caribbean territories.
Renato Lezama, vice president of
Regional Operations, spearheaded the
opening of the new branch in his
capacity of vice president, Trinidad
Operations, at the time.
Noting that Beacon was warmly
welcomed by Vishnu Kalicharan, a
stalwart in the Point Fortin business
community and owner of the mall in
which the new branch is located, Leza-
ma said: "Point Fortin has tremendous
opportunities for us to expand our
portfolio. We have arrived and we are
here to stay."
Guests at the function included
Deputy Mayor of Point Fortin Janelle
St Hillare; PRO of the Point Fortin
South West Chamber of Commerce
Ian Ochoa and branch manager of
First Citizens, Point Fortin, Trudy
Noor.
Economist: Most T&T
workers above minimum wage
Senior economist Dr Roger Hosein, left, speaks with International
Labour Organisation (ILO) representative Anne Knowles at a forum
hosted by the Employers' Consultative Association at the Courtyard
Marriott, Port-of-Spain. PHOTO: MICHEAL BRUCE
Beacon opens
Point Fortin branch
Staff standing outside Beacon's new Point Fortin branch.